Israel has a strong and growing economy, with a GDP of $372.3 billion in 2019. This is a 4.2% increase from 2018, making it one of the fastest growing economies in the world. The country has a high level of economic freedom, ranking 16th out of 180 countries in the 2020 Index of Economic Freedom. Israel also has a low unemployment rate of 3.9%, and a high labor force participation rate of 63.7%. The country has a strong export sector, with exports totaling $62.2 billion in 2019. Israel is also a leader in innovation, with the highest number of startups per capita in the world. The country is also a leader in research and development, spending 4.3% of its GDP on R&D in 2019. All of these factors contribute to Israel's strong and growing economy.